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Goodwin

Debt Download - July 2023

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Welcome to Debt Download, Goodwin's monthly newsletter covering what you need to know in the leveraged finance market. Are the debt capital markets this summer as hot as the weather? Read on to find out!...more

Alston & Bird

Structured Finance Spectrum – February 2022

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features analysis of how the market continues to swipe left on LIBOR but isn’t ready...more

White & Case LLP

Downgrades, defaults, distressed debt and refinancing

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Abundant liquidity, a red-hot refinancing market and improving credit ratings combined through the first half of 2021 to limit defaults and ease any near-term pressure on the balance sheets of US borrowers. Borrowers...more

Skadden, Arps, Slate, Meagher & Flom LLP

Uptier Exchange Transactions Remain in Vogue, Notwithstanding Litigation Risk

The U.S. leveraged loan market has grown exponentially since the end of the Great Recession. From 2010 to 2020, loan volumes have risen from approximately $500 billion to nearly $1.2 trillion. This ballooning loan volume can...more

A&O Shearman

Collateralized loan obligations group sues fellow lenders over new 'super priority' loans

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On November 7, 2020, a group of CLOs holding a minority of a first lien loan to TriMark – a restaurant supply company – sued TriMark, its private equity sponsors Centerbridge and Blackstone, and a group of CLOs and other...more

Winstead PC

Seth Eaton Discusses Modifications and Workouts of Commercial Real Estate Loans during the COVID-19 Pandemic

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Watch Real Estate Finance Shareholder Seth Eaton discuss loan modifications and how they have evolved throughout the COVID-19 pandemic. Seth outlines several different phases of loan modifications and highlights key points...more

Pillsbury Winthrop Shaw Pittman LLP

Fed Updates its Guidance for the Main Street Lending Program

The update generally provides further clarifications to existing guidance, but one change regarding the Expanded Loan Facility could enable eligible borrowers to access additional funding that was previously unavailable to...more

White & Case LLP

Leveraged Loan Update: Millennium Court Decision Confirms Syndicated Loans Are (Still) Not Securities

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The Bottom Line: On May 22, 2020, the United States District Court for the Southern District of New York concluded that broadly syndicated term loans are not "securities". This decision is highly significant to the US...more

Dechert LLP

Some Good News for the Loan Industry—Loans Are Not Securities

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Although the loan industry has long looked at loans as being obligations that arise in a commercial lending relationship, which are therefore not securities under Federal and state securities laws, the law supporting this...more

Fox Rothschild LLP

What Protection Does Title Insurance Offer Pennsylvania Lenders When Modifying Collateralized Loans?

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In the coming months, lenders that have extended loans to businesses that are struggling as a result of the COVID-19 pandemic may consider modifying existing loan arrangements rather than seeking legal remedies against...more

Dechert LLP

COVID-19 Coronavirus Business Impact: CLO Indenture Update

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Mark Twain is often misquoted as saying "History never repeats itself, but it often rhymes." Whoever said them, these words certainly come to mind in the current economic crisis brought about by the COVID-19 pandemic....more

White & Case LLP

Ten years on: The surprising resilience of European leveraged finance: The market pauses for breath in 2018

White & Case LLP on

• In Europe, leveraged loan issuance is down 28 per cent year-on-year to €202.5 billion in 2018, but is up on all years between 2014 and 2016 • High yield bond issuance is down 37 per cent year-on-year • Leveraged loans...more

White and Williams LLP

Mortgage and Pledge of Equity — Clogging the Equity of Redemption?

A recent decision by the Supreme Court of New York, New York County, addressed the issue of whether the borrower's equity of redemption was being impermissibly "clogged" by a foreclosing lender. The case, HH Cincinnati...more

Cadwalader, Wickersham & Taft LLP

[Event] Finance Forum - December 1st, Charlotte, NC

Cadwalader, Wickersham & Taft LLP is sponsoring its inaugural Finance Forum in Charlotte, North Carolina on December 1st.  Join Cadwalader, Wickersham & Taft LLP and fellow industry leaders to discuss emerging trends, market...more

Morrison & Foerster LLP

Recent Credit Agreement Restricts Ability of CLOs to Pledge Loans and Ability of Lenders to Sell Participations on the LSTA Form

A broadly-syndicated U.S.-law credit agreement which closed recently includes language limiting the ability of lenders to grant pledges or sell participation interests in their loans. The language appears to be intended to...more

Dechert LLP

New EU Securitisation Regulation: Moving in the Right Direction

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The European Commission published a draft regulation on a European framework for simple, transparent and standardised securitisation on 30 September 2015 (the “Draft Regulation”). The Draft Regulation aims to achieve a better...more

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